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RLJ Lodging Trust (NYSE:RLJ)‘s stock had its “outperform” rating reiterated by equities researchers at Raymond James in a research report issued on Friday. They currently have a $31.00 price objective on the stock, up from their previous price objective of $30.00. Raymond James’ price objective suggests a potential upside of 7.42% from the company’s current price.

RLJ Lodging Trust (NYSE:RLJ) opened at 28.86 on Friday. RLJ Lodging Trust has a 1-year low of $22.56 and a 1-year high of $30.01. The stock has a 50-day moving average of $28.81 and a 200-day moving average of $26.98. The company has a market cap of $3.615 billion and a P/E ratio of 27.73.

RLJ Lodging Trust (NYSE:RLJ) last released its earnings data on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.42 by $0.32. The company had revenue of $295.00 million for the quarter, compared to the consensus estimate of $296.11 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts predict that RLJ Lodging Trust will post $1.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from RLJ Lodging Trust’s previous quarterly dividend of $0.22.

RLJ has been the subject of a number of other recent research reports. Analysts at MLV & Co
raised their price target on shares of RLJ Lodging Trust to $33.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of RLJ Lodging Trust from $30.00 to $32.00 in a research note on Wednesday, July 23rd. Finally, analysts at Barclays raised their price target on shares of RLJ Lodging Trust from $30.00 to $31.00 in a research note on Tuesday, July 22nd. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.06.

RLJ Lodging Trust (NYSE:RLJ), is a real estate investment trust (REIT).

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